The unemployment rate is 6% if the total population is 100 million, the labor force is 50 million, and there are 47 million employed workers.
The correct option is B.
High unemployment, on the other hand, is not regarded healthy, as higher rates can be viewed as financial pressure on consumer spending. Most experts consider unemployment between 3% as well as 5% to be acceptable, while there is no universal agreement on what defines healthy unemployment.
Unemployment is caused by a variety of factors originating on both the demand side, or the employer, and the supply side, or indeed the worker. High-interest rates, a worldwide recession, and a financial crisis could all lead to demand-side cutbacks. Frictional unemployment as well as structural employment are important to supply factors.
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I understand that the question you are looking for is:
Assuming that there are 100 million people in the total population with a labor force of 50 million and 47 million of those workers are employed, the unemployment rate is:
A. 3%.
B. 6%.
C. 8%.
D. 10%.
E. 15%